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NWD May Benefit from Increased Credit Support from Mainland Banks, Sources Report
March 14, 2025
Reports suggest that New World Development (NWD) could benefit from a potential increase in credit support by major mainland banks. Its shares rallied by 3.6% on Thursday and its bonds also ticked higher. As per sources, the regulators held a meeting last month and asked the country’s four largest state-owned banks like China Construction Bank, Agricultural Bank of China, ICBC, and Bank of China to sustain their existing credit lines for NWD and also explore additional financing options. It is believed that the banks are reviewing their exposure to the developer currently.
its 6.15% Perp was trading broadly steady at 77.6 cents on the dollar, yielding 13.8%.
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